Mill Valley, CA

The number of home sales in the Mill Valley, California real estate market rose again in December 2009 - 27 listings sold, compared with 24 in November. Based on last month's total, we currently have an overall inventory of homes sufficient to last 1.96 months! This is a HUGE reduction from the absorption rate from May 2009, which stood at well over 8 months. Indeed, the number of homes for sale in Mill Valley is an extraordinarily low 53. Meanwhile, asking prices have held steady over the past quarter and stand now at about $610 per square foot. It remains to be seen whether this rise will translate into higher sales prices.

[Click HERE for the rest of the article, courtesy of www.MillValley101.com.]

As of January 6, 2010 only 27% of available listings in Mill Valley are in escrow.

For the month of December 2009 30 homes (5 of which were distress sales) sold in Mill Valley for an average final selling price of $946,792.

The average original asking price of these homes was $1,094,447.

The range of final selling prices was from a low of $321,000 to a high of $2,165,000.

Of the 30 homes that sold, 3 sold over their original asking price and all others sold for less than their original asking price.

It took these homes an average of 141 days to sell.

To see everything that is currently available for sale on our MLS, click here.

To learn more about this area, visit my website or feel free to contact me directly.

The number of home sales in the Mill Valley, California real estate market rose 20% in November 2009 - that is a total of 24 listings sold. Based on last month's total, we currently have an overall inventory of homes sufficient to last 3.1 months (significantly lower than last month) - this is called the absorption rate. This is a HUGE reduction from the absorption rate from May 2009, which stood at well over 8 months. Indeed, the number of homes for sale in Mill Valley is a very low 75, typical for this time of year. Meanwhile, asking prices have seemed to stiffen over the past quarter. The graph below tracks asking prices; the average price per square foot for homes currently on the market is rising - approximately $622 per square foot. It remains to be seen whether this rise will translate into higher sales prices.

Whilet the number of homes in escrow is down from last month, that is typical this time of year as buyers and sellers alike are focused on surviving the holiday season. We still think there are many real buyers out there who have been waiting for "a sign" to buy - we don't know what that sign will be (there are likely to be many "signs"), but we feel it will likely come soon. Numerous newspaper articles have run recently, pointing to the exceptional opportunities out there right now for buyers - indeed, we are starting to hear investors talk about "flipping" homes again!

[Click HERE for the rest of the article, courtesy of www.MillValley101.com]

As of December 9, 2009 only 29% of available listings in Mill Valley are in escrow.

For the month of November 2009 only 25 homes sold in Mill Valley for an average final selling price of $1,217,840.

The average original asking price of these homes was $1,342,820.

The range of final selling prices was from a low of $363,000 to a high of $3,120,000.

Of the 25 homes that sold (4 of which were distress sales) 2 sold at their original asking price and 2 sold over their original asking price. The remaining 21 homes sold for less.

It took these homes an average of 103 days to sell.

To see everything that is currently available for sale through our MLS, click here.

To learn more about the area visit my website or contact me directly.

Mill Valley, California (Inventory and Pricing) | Below is a graph showing median home prices dating back to 2007, along with inventory during this same time frame. If you have any questions about the Mill Valley real estate market, please do not hesitate to contact me (see bottom of this article). You can also review my market observations, published on a monthly basis -- just click on the link below.